Legislative History
| House Bill/Resolution NO. House Bill No. 2113, 12th Congress of the Republic | |
| FULL TITLE : AN ACT INCREASING THE ALLOWABLE PERSONAL AND ADDITIONAL EXEMPTIONS OF INDIVIDUAL TAXPAYERS, AMENDING FOR THE PURPOSE SECTION 35 (A) AND 35 (B) OF REPUBLIC ACT NO. 8424, OTHERWISE KNOWN AS THE TAX REFORM ACT OF 1997 | |
| ABSTRACT : Section 35(a) and 35(b) of Republic Act 8424 or the Tax Reform Act of 1997 is hereby amended to read as follows: "Section 35. Allowance of Personal Exemption for Individual Taxpayers. (a) In general - For purposes of determining the tax provided inSection 24(a) of this Title, there shall be allowed a basic personal exemption as follows: 'for single individuals or married [P20,000.00] P48,000.00 individuals judicially decreed as legally separated with no dependents'; 'for head of family' [P25,000.00] P54,000.00; 'for each married individual' [P32,000.00] P64,000.00. In the case of married individuals where only one of the spouses is deriving gross income, only such spouse shall be allowed the personal exemption. (b) Additional Exemption ffor Dependents - There shall be allowed an additional exemption of [Eight Thousand Pesos (P8,000.00)] Sixteen Thousand Pesos (P16,000.00) for each dependent not exceeding four(4). The additional exemption for dependents shall be claimed by only one | |
| PRINCIPAL AUTHOR/S : ENRILE, JACK | |
| DATE FILED : 2001-08-07 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Nograles (013 ) | 2. Gozos (027 ) |
| 3. Espino (035 ) | 4. Antonino-custodio (002 ) |
| 5. Syjuco (023 ) | |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2001-08-13 |
Abstract
Section 35(a) and 35(b) of Republic Act 8424 or the Tax Reform Act of 1997 is hereby amended to read as follows: "Section 35. Allowance of Personal Exemption for Individual Taxpayers. (a) In general - For purposes of determining the tax provided inSection 24(a) of this Title, there shall be allowed a basic personal exemption as follows: 'for single individuals or married [P20,000.00] P48,000.00 individuals judicially decreed as legally separated with no dependents'; 'for head of family' [P25,000.00] P54,000.00; 'for each married individual' [P32,000.00] P64,000.00. In the case of married individuals where only one of the spouses is deriving gross income, only such spouse shall be allowed the personal exemption. (b) Additional Exemption ffor Dependents - There shall be allowed an additional exemption of [Eight Thousand Pesos (P8,000.00)] Sixteen Thousand Pesos (P16,000.00) for each dependent not exceeding four(4). The additional exemption for dependents shall be claimed by only one
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.